Oil stocks outperforming oil

From Seekingalpha.com: With the price of oil falling dramatically lately, oil stocks have begun to significantly outperform the commodity. Below we highlight the historical ratio of oil stocks (S&P 500 oil & gas group) to the price of oil. When the line is rising, oil stocks are outperforming oil, and vice versa when the line if falling.

As shown below, as oil made its meteoric run earlier this year, the ratio got all the way down to its lowest levels since the early 1990s….. Full Article: Source